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ISA confusion

doitagain
Posts: 7 Forumite


I have read the ISA rules and various comments from experts and I am now more confused than ever.
My dillemma is this: I have opened a new Cash ISA with new money with provider A.
I have transferred a maturing ISA with provider A to a new account with provider B - no new money.
I have another ISA with provider A maturing soon - can I transfer this to B (or possibly C) -again new money.
Help!
Phil
My dillemma is this: I have opened a new Cash ISA with new money with provider A.
I have transferred a maturing ISA with provider A to a new account with provider B - no new money.
I have another ISA with provider A maturing soon - can I transfer this to B (or possibly C) -again new money.
Help!
Phil
0
Comments
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Sorry, that should read NO new money in last line.
Told you I was confused!0 -
Yes, you can do what you like with prior year contributions, subject to compliance with individual product terms - the rules all relate to constraints around current year money.
Having said that, if you're moving maturing money out of A, why are you putting this year's money into there?1 -
Thanks for the answer. Can sort it out now.
This year's allowance will go into an easy access account with A. The new account with B will a fixed rate which is a better deal than similar with A.
Thanks again0 -
doitagain said:I have read the ISA rules and various comments from experts and I am now more confused than ever.
My dillemma is this: I have opened a new Cash ISA with new money with provider A.
I have transferred a maturing ISA with provider A to a new account with provider B - no new money.
I have another ISA with provider A maturing soon - can I transfer this to B (or possibly C) - again no new money.
0
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